Hi, welcome to another Expert Insights discussion. Today we are joined by Julia Schröder from Hotellistat, one of our Expert Partners

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In this interview we discuss what hoteliers should consider before investing in a Revenue Management System (RMS).

Julia emphasizes the need for hoteliers to first understand their current processes, future goals, and existing competition before deciding on an RMS. She outlines key questions hoteliers should consider including the frequency of price changes, what level of automation and the integration with existing systems.

She also highlights the importance of understanding the data used for pricing recommendations and the transparency of the system’s logic. Finally, Julia asks hoteliers to reflect on why they haven’t invested in an RMS before.

Really hope you enjoy the conversation.

Areas Touched On During This Conversation (Timeline Below)

  • Understanding the Need for an RMS
  • Understanding your current setup
  • Evaluating Competitors and Market Dynamics
  • Strategizing for Future Success
  • Evaluating RMS Providers
  • Understanding Recommendation Logic
  • Considering Support and Training
  • Addressing Cost and Value
  • Reflecting on Past Decisions and Moving Forward
  • Final Thoughts

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Timeline

00:00 Video Start
01:10 Welcome and topic introduction
02:48 What do I want to achieve by investing in an RMS
06:26 Price change frequency and competition
13:14 Fully optimize current pricing to support re-positioning
17:01 Should you involve current staff in the RMS decision process
25:30 What is behind the price recommendations – how transparent is the tech
33:55 Is it really cost, or is trust a big factor
38:12 What to consider around costs
41:17 Have you asked yourself why you haven’t invested before now
43:44 Wrapping up